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Even Warren Buffet is not beyond OFAC’s reach…

Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Berkshire Hathaway, Inc. Release date 10/20/2020 Body The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $4,144,651 settlement with Berkshire Hathaway, Inc. (“Berkshire”), a multinational conglomerate holding company based […]

FinCEN detail on its Civil Monetary Penalty

From today’s CMP assessment of $60,000,000 on Larry Dean Harmon: IV. CIVIL MONEY PENALTYFinCEN determined that Mr. Harmon, in his roles with Helix and Coin Ninja, willfully violated the BSA and its implementing regulations, as described in this ASSESSMENT and Attachment A, and that grounds exist to assess a civil […]

FinCEN penalizes Bitcoin mixer for AML violations

First Bitcoin “Mixer” Penalized by FinCEN for Violating Anti-Money Laundering Laws Contact Office of Strategic Communications, 703-905-3770 Immediate Release October 19, 2020 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a $60 million civil money penalty against Larry Dean Harmon, the founder, administrator, and primary operator of Helix and Coin Ninja, convertible virtual […]

Crawling from the Wreckage

The newly-posted episode of Mr. Watchlist’s DesigNation is about yesterday’s OFAC enforcement action against Comtech Telecommunications and Comtech EF Data. All you need to know: egregious violations, settlement larger than the base penalty, and only 1 mitigating General Factor… Hoo boy! What fun!